George Economou-controlled TMS Cardiff Gas is continuing to expand its presence in the global gas shipping market with another major LNG carrier order in South Korea.
The Greek shipowner has reportedly returned to Samsung Heavy Industries for the construction of two new LNG carriers, reinforcing what has become one of the busiest fleet expansion programmes in the sector.
Samsung Heavy Industries confirmed it had secured a contract worth KRW 750.5 billion, or approximately $505.6 million, for two LNG carrier newbuildings. The deal values each vessel at around $252 million, with deliveries scheduled before the end of June 2029.
While the South Korean shipyard did not officially disclose the identity of the buyer, multiple shipbuilding and broking sources have linked the order to TMS Cardiff Gas.
The latest agreement adds to an already substantial orderbook the company has been building across LNG, LPG and ammonia-capable tonnage in recent years.
TMS Cardiff Gas already has four 174,000 cu m LNG carriers under construction at Samsung Heavy Industries, with those vessels expected for delivery in late 2028. The new order further deepens the relationship between the Greek owner and the Korean shipbuilder as demand for modern gas carriers continues to grow globally.
The company’s expansion strategy has not been limited to South Korea alone.
Earlier this year, TMS Cardiff Gas was also linked to as many as six LNG carrier orders at China’s Hudong Zhonghua Shipbuilding. Additional projects involving the company have also surfaced at Hanwha Ocean and HD Hyundai Heavy Industries, highlighting how aggressively the owner is positioning itself across multiple Asian yards.
Beyond LNG, the company is also strengthening its footprint in the LPG market.
Most recently, TMS Cardiff Gas was connected to an order for two dual-fuel VLGC newbuildings at HD Hyundai, with deliveries expected in 2029. The vessels are expected to become part of the company’s rapidly expanding gas transportation platform, which increasingly includes LNG carriers, VLGCs and ammonia-ready tonnage.
According to fleet database records, TMS Cardiff Gas currently controls a fleet of more than 20 gas carriers. However, its growing orderbook suggests the company is aiming for a much larger role in the future gas shipping landscape as demand for LNG, LPG and alternative fuel transport capacity continues to evolve.
